Question

I am really working hard on my credit to qualify for a mortgage. I have 3 credit cards from the Gap, Care Credit and Wal-Mart. My Gap card has zero balance, the Care Credit has a balance that is equal to about 50% of the avail credit and my Wal-Mart Card has a balance that is also about 50% of the avail credit. I also was recently approved for a secured credit card. How fast will this secured credit card raise my score? Thank you!

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Very Quickly

Helpful to 12 out of 12 people

I obtained the CapOne Secured last March with an initial deposit of $1000. Every month I used the card and then paid in full, every other month I added more to the deposit. I could see immediate results in my score, 20 points when it was added to my report, and 20-30 points each time the credit limit was increased by making additional deposits. My starting score was 530, by September it was at 680. I made other minor improvements to my report, but the CapOne secured card is what made the biggest difference.

I reasearched and compared all of the secured cards thoroughly and I would only recommend the CapOne card becasue you can make additional deposits to increase your credit limit. Plus they automatically increased my limit 2 times over the past year.

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